Wendy Jones operates a wholesale computer centre in Whitehorse. All transactions requiring the payment of cash are
Question:
Required
a. Journalize the following transactions.
b. Record in the accounts payable ledger and post to the general ledger as appropriate.
c. Prepare a schedule of accounts payable
Transcribed Image Text:
Accounts Payable Ledger Name Alvin Co. Henry Co Soy Co Xon Co. GST Included Balance $1,260 630 840 1,470 $60 30 40 70 Partial General Ledger Account Cash Prepaid GST Delivery Truck Accounts Payable Computer Purchases Computer Purchases Discount Rent Expense Utilities Expense Number 110 132 150 210 510 511 610 620 Balance 920 4,200 $17,000 2013 May Paid half the amount owed Henry Co. from previous purchases of computers on account, less a 2% purchases discount, cheque No. 21. Bought a delivery truck for $8,000 cash, plus GST of $400, cheque No. 22, payable to Bill Ring Co. Bought computer merchandise from Lectro Co., cheque No. 23, $3,900, plus GST. Bought additional computer merchandise from Pulse Co., cheque No. 24, $800, plus GST. 3 3 7 17 24 Paid Xon Co. the amount owed less a 2% purchases 27 Paid rent expense to King's Realty Trust, cheque No. 26, 28 Paid utilities expense to Stone Utility Co., cheque No. 27, 31 Paid half the amount owed Soy Co., no discount, discount, cheque No. 25 $2,000, plus GST. $300, plus GST. cheque No. 28.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
JONES COMPUTER CENTRE CASH PAYMENTS JOURNAL ACCOUNTS PAYABLE LEDGE...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
Question Posted:
Students also viewed these Accounting questions
-
Jim Stokes owns and operates a welding supplies company in Fort Liard. All transactions requiring the payment of cash are recorded in the cash payments journal. The account balances as of May 1,...
-
Peter Daly operates a photo printing centre in Whitehorse. All transactions requiring the payment of cash are recorded in the cash payments journal (page 5). The account balances as of May 1, 2016,...
-
Wendy Jones operates a whole sale computer centre in White horse. All trans-actions requiring the payment of cash are recorded in the cash payments journal (page 5). The account balances as of May 1,...
-
Consider the problem of making change for n cents using the fewest number of coins. Assume that each coin's value is an integer. 2. Suppose that the available coins are in the denominations that are...
-
A Bureau of National Affairs survey found that 79% of employers provide their workers with a two-day paid Thanksgiving holiday with workers off both Thursday and Friday (USA today, November 12,...
-
Carreras Café is a Spanish restaurant in a college town. The owner expects that the number of meals served in June will be 40 percent below those served in May, because so many students leave...
-
Avoid excessive response at resonance a. Introduce damping b. Use vibration isolator c. Add vibration absorber d. Avoid resonance
-
Jack and Jane are married and own a home insured for $150,000 under an unendorsed HO-3 policy. The replacement cost of the home is $250,000. Personal property is insured for $75,000. Jane has jewelry...
-
You can run 9.2m/, 20% faster than your brother. a) How much head start should you give him in order to have a tie race over 90m?
-
Measurements show that steady-state conduction through a plane wall without heat generation produced a convex temperature distribution such that the mid- point temperature was 6.To higher than...
-
Mary Parker owns Parker's SCUBA Shop of Bathurst. (In your Study Guide with Working Papers, balances as of April 1 are provided for the accounts receivable and general ledger accounts.) In Mary's...
-
Abby Ellen owns Abby's Toy House in Halifax. As her newly hired accountant, your task is to: a. Journalize the transactions for the month of March. b. Record in subsidiary ledgers and post to the...
-
For each solution, calculate the initial and final pH after adding 0.010 mol of HCl. a. 500.0 mL of pure water b. 500.0 mL of a buffer solution that is 0.125 M in HC 2 H 3 O 2 and 0.115 M in NaC 2 H...
-
Is the markup a percent out of the retailer's cost or the retail price? Illustrate your answers with a numerical example.
-
What are the major steps in the consumer's decision-making process?
-
What is costvolumeprofit analysis? And how would it help the firm to figure out when it would start collecting profits?
-
What is meant by operations? And how would it serve the firm?
-
Briefly explain advertising, publicity, and public relations, pointing out the crucial difference among them.
-
Use the shell method to find the volumes of the solids generated by revolving the shaded regions about the indicated axes. a. The x-axis b. The line y = 2 c. The line y = 5 d. The line y = -5/8 2 0 X...
-
Imagine a sound wave with a frequency of 1.10 kHz propagating with a speed of 330 m/s. Determine the phase difference in radians between any two points on the wave separated by 10.0 cm.
-
From the financial statements and additional information provided in Problem 21A-1 for Danley Company, prepare a statement of cash flows using the direct method. In Problem 21A-1, from the following...
-
From the financial statements and additional information provided in Problem 21A-1 for Danley Company, prepare a statement of cash flows using the direct method. In Problem 21A-1, from the following...
-
From the income statement (Figure 21.17) and balance sheet (Figure 21.18), along with the additional data for Dean Company, prepare a statement of cash flows using the indirect method. Additional...
-
For its three investment centres, Stahl Company accumulates the following data: Centre I Centre II Centre III Sales $1,966,000 $4,029,000 $3,927,000 Controllable margin 1,096,700 2,145,960 3,858,880...
-
What is a mirror's radius of curvature if cars 1 9 . 0 m away appear 0 . 3 7 their normal size? Express your answer to two significant figures and include the appropriate units.
-
Reading Coming to a new awareness of organizational culture, Edgar H.Schein: https://docs.google.com/document/d/15yKbiEIwu47U1OnyjYevwz9ly42o2PCi0x-Zz_4C-po/edit In the assigned reading from the...
Study smarter with the SolutionInn App